Eliciting Ambiguous Beliefs using Constructed Ambiguous Acts: Alpha-Maxmin

We elicit subjective ambiguous beliefs of an agent with ambiguity-sensitive preferences; in particular, as represented by the α-maxmin model. An important problem with the model is that it cannot be identified using observations from typical choice problems, as the preference parameter α confounds observation of beliefs. Our main conceptual contribution is to show that the model can in fact be fully identified by using constructed ambiguous acts to elicit α.